The Oura Ring may get a fierce new competitor in 2024

A person holding the Ultrahuman Ring Air and the Oura Ring.
Ultrahuman Ring Air (left) and the Oura Ring Andy Boxall / Digital Trends

Smartwatches have become a popular way to track personal health stats in real time. However, some people don’t like wearing an Apple Watch Series 8 or Samsung Galaxy Watch 6 all day and night. That’s why devices like the Oura Ring have caught the attention of some users. Now, it looks like a new smart ring could be launched at the beginning of next year, and its release could be significant — if only because of which company might release it.

Early next year, Samsung is expected to announce the Samsung Galaxy S24 series of phones. At the same event, it could also introduce a Galaxy Ring. The possible news comes from the Chinese-based tipster Ice Universe. Although there have been previous rumors about a Samsung fitness ring product, this is the first time its release date has been suggested to be just a few months away.

Smart rings have similar functions to those of smartwatches. For example, the Oura Ring Generation 3 provides activity tracking, heart rate monitoring, and sleep analysis. However, smart rings are less invasive than smartwatches because of their compact size and the fact that they do not constantly bombard you with notifications.

A close look at the Oura Ring's main sensors.
The main sensor inside the Oura Ring Andy Boxall / Digital Trends

Naturally, despite the similarities, smart rings are far behind smartwatches in terms of sales. Sales are supposed to grow significantly in the coming years. According to a previous report, the growth rate of the smart ring market is expected to be over 25% per year from 2023 onward, and it is anticipated to reach a market value of $747.41 million. And a lot of research shows smart rings have tremendous benefits that shouldn’t be overlooked.

For example, a scientific study published in Sleep concluded that wearables like the Oura Ring could be used to develop sleep-wake models, matching the performance of existing research devices. Meanwhile, the International Journal of Environmental Research and Public Health published a report showing the benefits of wearables such as the Oura Ring. The report suggested that with some modifications, these wearables could help certified medical personnel deliver critical care like CPR to people in emergencies.

Overall, the world of wearable technology is rapidly evolving, and it’s exciting to see what new features and designs will be released in the future.

The features of a Samsung Galaxy Ring are yet to be determined. However, it will probably have similar health-tracking capabilities to the Samsung Galaxy Watch 6, which was released earlier this year. It will be exciting to see how competitors like Apple respond to Samsung’s entry into the market. Apple has already released several versions of its smartwatch, the Apple Watch, and it will be interesting to see how it will continue to innovate and improve its products to stay ahead of the competition. Could an Apple Ring be far behind?

Samsung typically holds Galaxy Unpacked events early in the year for phone launches, so we may see the first Galaxy Ring release in a few months. Stay tuned.

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